- The specific amount of XRP moved caught the attention of the crypto community.
- Ripple owns most of the XRP supply; roughly 60% of total supply.
The world’s largest altcoin, Ripple’s XRP has kicked off the new year with incredible transaction news. The San Francisco-based blockchain company has its networking moving colossal amounts of XRP. The specific amount of XRP moved caught the attention of the crypto community. For stance at $2,133,569,088 XRP funds, which translate to roughly $755,705,929 has already been moved.
The transferred funds were made a series of seven transactions and uniquely display very minimal transaction fees. In fact, a report published by The Daily Hodl, a crypto news site indicates that for all the funds moved, the total amount of transaction fee comes to less than cent.
As per Whale Alert by Twitter, the tokens are being transferred into escrow. It should be noted that Ripple owns most of the XRP supply. In fact, Ripple is said to control 60% of total supply. In addition to that, the tokens are still sealed in escrow. The rest of the funds seem to indicate XRP movement to Ripple’s over-the-counter (OTC) addresses. The company is known to sell its tokens to institutional clients from time to time.
At press time, XRP is trading at $0.36 following a 1% decline on the day. The market is generally in the red after the anticapted new year bull run failed to materialize.
Elsewhere in the market:
1. Bitcoin price analysis: Recovery fizzles out into a bull flag pattern
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